Monday, November 1, 2010

Lee closes 3 papers

Lee Enterprises closed three weekly Illinois newspapers on Oct. 27: The Heyworth Star, Farmer City Journal and LeRoy Journal.

The papers were part of Pantagraph Publishing in Bloomington, Ill.; company officials said the weeklies were not profitable. "We felt we could more effectively serve our readers in those three communities with The Pantagraph," general manager Barry Winterland said in a story on the Pantagraph's website. A week before the weeklies were closed, the Pantagraph introduced a new "Your Town" print and web section "to provide more consolidated coverage" in Heyworth, Farmer City and LeRoy, and other local communities.

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1 comment:

Anonymous said...

Shares of Lee Enterprises are busting through their 52-week lows as the company's troubles become increasingly clear to investors. Simply put, real estate and car sales have not improved nearly fast enough for the newspaper chain to meet debt deadlines on their Pulitzer notes and other lines of credit.

Expect a race to the bottom as the company liquidates stock shares and newspaper properties, driving away readers, subscribers, advertisers, and shareholders alike. The resulting cuts to editorial content at the company's remaining property will only accelerate the plunge.